With partners in the fuel, textiles, bottling and chemical industries, Virent has formed a consortiumwith the hope of producing both fuels and chemicals from plants in the next four to five years.

The Madison-based company said its new consortium is a key step for it to take the final steps to shift from a company with tomorrow’s technology to one that is ready to put fuels in vehicle tanks and bioplastic in bottles and polyester clothing.

Virent’s partners include it’s soon-to-be-corporate parent, petroleum refiner Tesoro Corp. of Texas, The Coca-Cola Co. of Atlanta and Japanese textile company Toray, as well as Johnson Matthey. Read the full story here.